"Swiss"USD-CHF @ 0.7263/66...Support at 0.7200 holding

R: 0.7300-20 / 0.7400 / 0.7500-30
S: 0.7200

Dollar-Swiss failed to sustain the break above 0.7300 during the day and fell from its high of 0.7329. However, the Support at 0.7200 is still holding and is keeping up the chances of a bounce to 0.7400-7500 which we had mentioned in our Morning commnets. On the other hand a strong break below 0.7200 would trigger further fall in the coming sexsions. As mentioned earlier, no significant Supports available on the downisde and a fall below 0.7200 might extend as much as it can. We will have to wait and see whether 0.7200 continues to hold or not.

"Cable"GBP-USD @ 1.6255/58...Might break below 1.6200

R: 1.6300 / 1.6400 / 1.6450
S: 1.6200 / 1.6100

Cable is continuing to trade lower below 1.6300 and is looking weak. While below 1.6300 we see good chances of a break and dip below 1.6200 towards 1.6100. While 1.6200 holds, we might expect the pair to be ranged between 1.6200-6300 for some time. A strong break above 1.6300 would trigger further upmove towards 1.6400-50 once again and it would ease the downside pressure. We wull have to wait and see what happens.

"Aussie"AUD-USD @ 1.0329/32...Indecisive.

R: 1.0400 / 1.0500-30
S: 1.0300 / 1.0200 / 1.0150

Aussie is trading flat in between 1.0300 and 1.0400. The market remains indecisive now not finding new buyer even after a strong bounce yesterday above the 200-DMA. Failure to see a strong bounce above 1.0400 and a strong break below 1.0300 would trigger a downmove which could test 1.0100-000 on the downside once again. On the other hand a strong break above 1.0400 would take the pair up towards 1.0500-30. This 1.0500-30 is a strong Ressitance region seen on the upside and an immediate break above this Resistance region is not looking likely.


Stop Loss Sell Order:
Sell AUD 10K at 1.0290, SL 1.0330, TP 0.9950
As soon as the market trades 1.0250 after entry bring SL down to 1.0310 and as soon as the market trades 1.0220 there after trail SL to 1.0280

Happy Trading!